AvePoint, Inc. (NASDAQ:AVPT) Insider Sells $539,000.00 in Stock

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Michael Brown sold 35,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the sale, the insider now owns 1,347,145 shares of the company’s stock, valued at approximately $20,746,033. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AvePoint Trading Down 1.4 %

Shares of NASDAQ AVPT opened at $15.23 on Wednesday. The stock has a fifty day moving average price of $17.06 and a 200 day moving average price of $15.60. AvePoint, Inc. has a 12-month low of $7.52 and a 12-month high of $19.90. The company has a market cap of $3.07 billion, a P/E ratio of -304.54 and a beta of 1.11.

Institutional Investors Weigh In On AvePoint

Large investors have recently modified their holdings of the stock. Quantbot Technologies LP grew its position in AvePoint by 142.8% in the third quarter. Quantbot Technologies LP now owns 153,747 shares of the company’s stock valued at $1,810,000 after acquiring an additional 90,413 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of AvePoint by 8.3% in the third quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company’s stock valued at $824,000 after purchasing an additional 5,352 shares during the period. Walleye Capital LLC purchased a new position in shares of AvePoint in the third quarter valued at $2,970,000. Charles Schwab Investment Management Inc. grew its holdings in AvePoint by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock valued at $10,565,000 after purchasing an additional 63,323 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in AvePoint by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after buying an additional 184,361 shares during the period. Institutional investors and hedge funds own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AVPT shares. Citigroup dropped their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. William Blair reiterated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.75.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.